ACAMS moneylaundering.com spoke with the co-head of the United Kingdom's Serious Fraud Office's bribery and corruption unit, Ben Morgan, about his hopes of securing the U.K.'s first deferred prosecution agreement with a corporate.
U.S. authorities should consult British regulators on the financial penalties they plan to impose on banks in the United Kingdom, Prudential Regulation Authority head Andrew Baily said Tuesday.
The Bank of England reportedly exerts "strong pressure" on Russia's second largest bank, an arrested Zetas leader's sons tweet incriminating photographs, and more, in this week's news roundup.
Last year, I told you not to believe any of that "best of years, worst of years" stuff à la Charles Dickens with regard to 2012. But if 2013 was less eventful than the prior year, every indication is that 2014 will be "challenging" for financial institutions and regulators.
Federal officials will weigh whether financial institutions can bank medical marijuana shops, New York's financial regulators asks two financial consultancies for data and more, in this week's news roundup.
Germany's BaFin is reportedly investigating potential AML violations by Deutsche Bank, a U.K. court could order the British government to pay millions to compensate a blacklisted Iranian bank, and more, in this midweek roundup.
U.S. lawmakers threaten to impose sanctions on Russia for harboring Edward Snowden, Switzerland transfers $962 million for backdated taxes, and more, in this week's news roundup.
As the compliance expectations of European regulators grow, banks should proactively move to adopt future changes outlined in proposals for the EU's Fourth Money Laundering Directive, according to the former global head of compliance at ABN Amro.
Some jurisdictions will likely struggle to comply with a call by the world's top anti-money laundering watchdog to assess their own vulnerabilities to financial crime, say industry experts.
A group of investigative journalists reveal the identities of thousands of suspected tax evaders, U.S. prosecutors increasingly turn to a civil fraud statute to prosecute money launderers, and more, in this week's news roundup.
The Reserve Bank of India confirmed that it is investigating three banks for potential money laundering violations, a forthcoming industry survey points to rising compliance salaries, and more, in this midweek news roundup.
The U.S. Treasury Department is nearing completion of a plan to use predictive analytics software to analyze regulatory data and identify possible financial crimes, an official said Tuesday.
The U.K.'s planned new regulator of banks and other financial institutions would impose tougher oversight than its predecessor, a series of proposals for the agency's forthcoming operations handbook show.
Though none can predict the future, one thing in the AML world seems certain: the jobs of compliance officers won't get any easier in 2013.
The director of the U.S. financial intelligence unit and prominent Bank Secrecy Act officers have formed a group to discuss whether efforts to combat money laundering at times miss their mark.
The U.S. Treasury Department has launched a taskforce to evaluate the effectiveness of America's anti-money laundering regulations - the first ever such review of the 1970 Bank Secrecy Act and related laws.
The United Kingdom's HM Treasury is considering changes to its anti-money laundering regulations, including whether to decriminalize failures to properly collect and retain customer due diligence data, according to a British legal group.
Nigerian politicians deposited millions of dollars obtained through bribes into accounts at some of the U.K.'s most prestigious banks, which subsequently faced no apparent regulatory penalties, a British advocacy group said Monday.
The United Kingdom's chief financial regulator fined Royal Bank of Scotland nearly USD $9 million on Tuesday, the agency's largest penalty ever for anti-money laundering and sanctions compliance failures.
The U.K.'s chief financial regulator can prosecute criminal money laundering and other crimes despite the fact that the agency is not explicitly given powers to do so, a British court ruled Friday.